Ares Capital Corporation $ARCC Position Decreased by Acorn Creek Capital LLC

Acorn Creek Capital LLC decreased its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 12.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,435 shares of the investment management company’s stock after selling 1,973 shares during the period. Acorn Creek Capital LLC’s holdings in Ares Capital were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Prostatis Group LLC boosted its position in shares of Ares Capital by 2.1% during the 2nd quarter. Prostatis Group LLC now owns 22,236 shares of the investment management company’s stock valued at $488,000 after purchasing an additional 468 shares in the last quarter. CWM LLC boosted its position in shares of Ares Capital by 62.7% during the 2nd quarter. CWM LLC now owns 231,240 shares of the investment management company’s stock valued at $5,078,000 after purchasing an additional 89,072 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Ares Capital by 3.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 82,941 shares of the investment management company’s stock valued at $1,821,000 after purchasing an additional 2,785 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in shares of Ares Capital by 38.0% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 107,002 shares of the investment management company’s stock valued at $2,350,000 after purchasing an additional 29,443 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its position in shares of Ares Capital by 1.3% during the 2nd quarter. Apollon Wealth Management LLC now owns 232,532 shares of the investment management company’s stock valued at $5,106,000 after purchasing an additional 2,902 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

NASDAQ ARCC opened at $18.90 on Friday. The company has a 50 day simple moving average of $21.61 and a 200-day simple moving average of $21.62. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of 9.22 and a beta of 0.68. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $614.00 million during the quarter, compared to analysts’ expectations of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same period last year, the company earned $0.61 earnings per share. Equities research analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio is 93.66%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ARCC shares. Wall Street Zen lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group raised their target price on shares of Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Ares Capital in a report on Wednesday. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and raised their target price for the stock from $22.50 to $23.50 in a report on Wednesday, July 30th. Finally, Capital One Financial set a $22.50 target price on shares of Ares Capital in a report on Friday. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $22.81.

Ares Capital Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.